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Thursday, February 5, 2015

You Can Enjoy Trading

“Traders
produce success, trading systems do not!”
– Dr. Van K. Tharp

Have you ever felt as I did when I was a novice? Sometimes
trading turns out to be a far cry from our dreams. Painful results can seem to
drag on endlessly, and it can be hard to see a way out or a way to endure. Needless
to say, those who endured in the past now enjoy trading and the benefits that
come from it. How can you enjoy trading?

Cultivate a
Positive View of Trading

We can view trading as a means to an end. If you’re able to
acquire what you need as a trader, then your trading is doing what it’s
supposed to do. Successful traders love
the feeling they’ve after a long period of trading. They may’ve worked hard to
achieve success and their work may’ve gone unnoticed by others – but they know
they’ve accomplished something. That thing is a profit.

Apply Yourself
to Trading Mastery

Of course, you don’t become a skilled trader automatically,
and not many people cherish engaging themselves in what they’ve not mastered.
Maybe that’s the reason why many don’t like trading, for they simply haven’t
put forth enough attempt to become good at it.

Focus on How
Your Trading Activity Can Benefit Others

Avoid the trap of thinking only about how much money you
can make for yourself, but think about how others also benefit from your
trading. The world of trading is a unique ecosystem in which you, your family,
the broker, the liquidity provider, etc. benefit and can’t do without one
another. Think of how those who need help can be helped when you become a rich
trader.

Truly, when we strive hard and reach a good level of
competence in trading, we can provide for ourselves and our family and we can
also help those who’re in need. So trading can make us experience the happiness
of giving.

Go to Extra
Mile

Rather than simply reaching a level of competence in
trading, look for ways to become a super trader. No matter your level of
expertise, there’ll always be room for improvement. Set quarterly or annual
goals for yourself. Challenge yourself to trade better and with more maturity.
When you do this, you’re more likely to enjoy trading. This is because you’re
in control of your mindset and actions. You’re doing well because you want just
that, not because you’re forced into doing that.

Keep Trading
in Its Proper Place

Profitable speculation is admirable, yet we do well to
remember that there’s more to life than speculation. Although it’s a noble idea
to dedicate yourself to trading success, you need to think of other important
things in life. What are these? These are your family and friends and other
activities that matter to your spiritual and physical health.

Joe Ross, Van K. Tharp, Anne-Marie Baiynd (quoted below)
and many others are examples of persons with balanced trading ethics. They’ve
worked hard to achieve success in trading and they’ve left great impression on
their clients because of the quality of their services. But in the end, when
the job is done, they know how to leave trading behind temporarily and focus on
their family and other things they cherish. And you know what? They’re among
the happiest traders on this planet.

Conclusion: When trading seems difficult as a result of a lack of
expertise, who among us doesn’t need to work on our endurance? In order to face
the ongoing challenges in the markets, we need the kind of determination,
patience and inner peace that only conservative risk control and sane position
sizing can give us.

The piece below ends this article:

“Our success is
not about how much knowledge we have, but how we make decisions when our senses
are heightened by fear or anxiety.” –
Anne-Marie Baiynd